Discussion: Exchanges, the cancer of Bitcoin? What is the solution of Bitcoin? - page 2.

mauline

member

Activity: 110

Merit: 10

Quote from: BitcoinDealer on July 02, 2011, 03:54:19 PM

Users of Bitcoin can broadcast 'Buy Bitcoin for $ in US, via bank'. And others can accept this call and contact the seller in any way (like through a Personal Message). Then the selling and buying of the Bitcoin is given to the people, not exchanges.

Your thoughts are probably correct, but how will your solution protect people against a rip off? It provides scammers with an easy way to contact people to defraud them.

Mauline

AtlasONo

hero member

Activity: 551

Merit: 500

Quote from: BitcoinDealer on July 02, 2011, 04:00:09 PM

Quote from: AtlasONo on July 02, 2011, 03:57:52 PM

The only thing that accomplishes is screwing exchanges over by wrecking their business model.

Thank you for this very thoughtful reply.

Alright.

"With centralized exchanges the whole purpose of Bitcoin is defeated. 95% (if not more) of the price of BTC is pure speculation hoping the prices go up, meaning 5% is for consumptions. This ofcourse cannot be sustained meaning the price will drop unless consumptions will increase alot."

Your p2p plan does not change this. Thank you for your well thought out plan.

BitcoinDealer

newbie

Activity: 28

Merit: 0

Quote from: AtlasONo on July 02, 2011, 03:57:52 PM

The only thing that accomplishes is screwing exchanges over by wrecking their business model.

Thank you for this very thoughtful reply.

AtlasONo

hero member

Activity: 551

Merit: 500

The only thing that accomplishes is screwing exchanges over by wrecking their business model.

BitcoinDealer

newbie

Activity: 28

Merit: 0

Hello,

I just wanted to discuss some things about Bitcoin and it's survival. It is clear that Bitcoin can not survive if the mass public can't get ahold of Bitcoins.

With centralized exchanges the whole purpose of Bitcoin is defeated. 95% (if not more) of the price of BTC is pure speculation hoping the prices go up, meaning 5% is for consumptions. This ofcourse cannot be sustained meaning the price will drop unless consumptions will increase alot.

Since exchanges aren't here to serve the public or the 'p2p' idea of Bitcoin, but only to serve themselves with profits from fees. They are the cancer of Bitcoin.

My thought is that only miners can solve this problem, ofcourse miners mostly don't care about Bitcoin either and only mine to sell them immedietally on exchanges for USD to fools.

So whats the solution?

In my opinion, the only solution is a built in p2p exchange into the Bitcoin client.

Users of Bitcoin can broadcast 'Buy Bitcoin for $ in US, via bank'. And others can accept this call and contact the seller in any way (like through a Personal Message). Then the selling and buying of the Bitcoin is given to the people, not exchanges.

Let's work out the p2p exchange idea here.

It's really the only solution..

Discuss.

IDIOT WARNING: THIS TOPIC IS NOT ABOUT SOLVING SPECULATION. THIS TOPIC IS ABOUT HOW TO MAKE BITCOIN CONVENIENT FOR THE AVERAGE PEOPLE. A CONVENIENT BUY BITCOIN SYSTEM

Topic: Discussion: Exchanges, the cancer of Bitcoin? What is the solution of Bitcoin? - page 2. (Read 2866 times)